The major averages are set to close out their first trading week of the year with losses.
"And if we have a recession, the market will have ended its decline, say, down 35% from its peak, so that gives you the low 3,000s," Cooperman added.. Economists polled by the Dow Jones expect the U.S. added 200,000 jobs last month, which would mean a deceleration from gains in the prior month. A better-than-expected report pointing to a resilient labor market could mean the Fed has further to go in its efforts to tame inflation.. As of Thursday's close, the Dow is down 0.
said he's still holding a cautious view on stocks and the economy, but he's finding cheap stocks to buy after the recent correction. "I would basically take the position that we're in a market of stocks rather than a stock market," Cooperman said on CNBC's "
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